Beruflich Dokumente
Kultur Dokumente
SUBJESCT:
MACROECONOMICS
PREPARED BY:
AAMIR HAYAT
STUDENT OF:
GRADUATE SCHOOL OF MANAGEMENT
INTERNATIOMAL ISLAMIC
UNVERSITY ISLAMABAD
World Trade Organization:
Definition:
The World Trade Organization (WTO) is the only global international organization dealing with
the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk
of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and
services, exporters, and importers conduct their business.
Some facts about WTO:
World trade organization is established in January 1, 1995. Its office is situated in Geneva,
Switzerland and it is created by Uruguay Round negotiations (1986-94). It has 153 members till July 2008.
Its budget is 189 million Swiss francs for 2009. Its secretariat staff consists of 625 persons and Pascal
Lamy is its Director-General.
WTO and Pakistan:
Pakistan has been a WTO member since 1 January 1995
Functions of World Trade Organization:
Undemocratic setup:
WTO will be a undemocratic setup only large and power full countries make and their polices and
small and weaker countries left with no choice to accept these policies.
Terms and conditions of World Trade Organization:
How to become a member of the WTO:
Article XII of the WTO Agreement states that accession to the WTO will be “on terms to be
agreed” between the acceding government and the WTO. Accession to the WTO is essentially a process of
negotiation; all interested WTO Members must be in agreement that their individual concerns have been
met and that outstanding issues have been resolved in the course of their bilateral and multilateral
negotiations.
All documentation examined by the accession Working Party during the process of negotiation remains
restricted until completion of the process.
Conditions of entry :
After examining all aspects of the existing trade and legal regimes of the acceding government the
Working Party goes into the substantive part of the multilateral negotiations involved in accessions. This
determines the terms and conditions of entry for the applicant government. Terms and conditions include
commitments to observe WTO rules and disciplines upon accession and transitional periods required to
make any legislative or structural changes where necessary to implement these commitments.